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Proof American Gold Eagle

Introduction to the Proof American Gold Eagle

The Proof American Gold Eagle is widely considered to be the most iconic U.S. Mint gold coin in the world today, coming in at 91.67% pure gold, commonly called 22-karat gold (22k). The Proof American Gold Eagle comes in 4 sizes of currency coinage: 1/10th ounce, 1/4th ounce, ½ ounce, and 1 oz, while the standard-sized version is the 1 oz. These sizes of Proof American Gold Coins come sold individually and in Proof American Gold coin sets. All Proof versions come with a Certificate of Authenticity (COA) and a guarantee backed by the US Mint. Proof American Gold Eagles make for excellent gifts or added to investors' coin collections.

The American Gold Eagle was authorized under U.S. President Ronald Reagan with the signing of the Gold Bullion Act of 1985 (Public Law 99-185), and first began minting in 1986. The Proof versions are sometimes also written as American Gold Eagle Proof coins or Proof Gold Eagles. The Proof American Gold Eagle usually has a grading of PR or PF, and in many instances is understood to be Proof graded if made at the West Point Mint with the W mint mark.

Most American Gold Eagles are gold bullion coins. However, the US Mint also produces Proof versions. A Proof coin tends to be shinier, have sharper images, more details, a mirror-like finish, and are normally produced using 3 to 6 strikes per coin. Because Proof versions of these coins require white glove handling and special attention to detail, they produce a nicer-looking coin that also has more cost to make. Other than the minting process, W mint mark, and finished look of the product, there are no real design differences between the regular American Gold Eagle and the Proof American Gold Eagle.

The US Mint adds a significantly higher premium for Proof coins, and the Proof American Gold Eagle coins are no different. These Proof coins are produced at lower, limited quantities, creating a sort of coin collectible numismatic value. They are often shipped in assay protective packaging in a special display box that keeps the assayed coin clean and protected from potential wear, tear, tarnishing, and damage.

Design of the Proof American Gold Eagle

The obverse (heads) design is a rendition of the Augustus Saint-Gaudens design that was originally used on the $20 face value gold double eagle coins from 1907 to 1933. One discernable difference with the modern American Gold Eagle design, whether bullion or proof, is the inclusion of 50 stars rather than 44 or 46 along the edge surrounding the face of the coin, symbolizing each of the states of the United States of America. Another detail difference is found in the sun ray designs, with more modern versions - especially Type 2 - having more sun rays than earlier designs, and the newer designs tend to have sharper edges and points on the sun rays. This U.S. gold coin highlights the pursuit of American Truth and Liberty.

The coin’s design features Lady Liberty, sometimes also referred to as the Goddess of Liberty or simply as Victory. She walks towards the viewer face-on and takes a strong stride with her left leg (right side of the coin’s obverse) walking up a mountain. In front of the mountain top, on the ground, is an oak branch that symbolizes strength. Her flowing gown compliments her figure while not revealing too much.

In her left hand (right side of the obverse) she extends an olive branch to the 3 o’clock side of the coin, symboling peace. In her right hand (left side of the obverse) she extends a torch of truth towards the viewer. Her long, flowing, hair blows softly in the wind. Behind her to the left side of the coin is Washington D.C. and the Capitol building. On Type 2 designs, post-2021, there are 14 sun rays emitting from behind the Capitol, symbolizing the addition of the U.S. capital. To the right of the coin, 13 sun rays are emitting from the distance symbolizing the original 13 colonies.

On the top of the obverse is the word “LIBERTY” and around the 4 o’clock mark is the year. From 1986 to 1991 the year was written in Roman numerals, and from 1992 onward the year was written in Arabic numbers. The artist’s stylized initials “ASG” are stacked near the oak branch, while the mint mark W is found closer to the stars at the 4 o’clock mark. All American Gold Eagles are made by the United States Mint at either the Philadelphia Mint or the West Point Mint. The Philadelphia Mint does not have a mint mark on the American Gold Eagles, and they mainly produce bullion coins or scruffles, while the West Point Mint in New York produces the uncirculated, Burnished, and Proof versions. All Proof American Gold Eagles will have a W mint mark on the obverse.

On the reverse side of the Proof American Gold Eagle coin (tails) is where either Type I or Type II (Type 1 or Type 2) will be found. The Type I design was from 1986 to late 2021, while the Type II design was from late 2021 through today (ongoing). An added security feature was added to the American Gold Eagles with the Type II design, and this includes an annually moved security notch located along the reeded edge. All American Gold Eagles, whether Proof or other, have reeded edges. The Type I design was by sculptor Miley Busiek (later referred to as Miley Busiek Frost after she was married and changed her maiden name) and engraver Sherl Joseph Winter.

Type I Design Proof American Gold Eagle (1986-2021)

The Type I design features a male American bald eagle carrying an olive branch down to his family of eagles consisting of a mother eagle and her baby eaglet (or offspring or hatchlings) who are perched in their nest happily awaiting the father eagle. The male’s wings are spread in a hug-like motion as he approaches the nest of oak branches. The family of American bald eagles symbolizes a tribute to the American family.

At the top of the reverse side of the Type I design Proof American Gold Eagle coin (tails side) are the words “UNITED STATES OF AMERICA,” while along the bottom edge of the coin are the words “1 OZ. FINE GOLD ~ 50 DOLLARS.” Under the male eagle’s tailfeathers are the words “E PLURIBUS UNUM,” and above the female eagle’s head is the motto “IN GOD WE TRUST.” Under the left side of the nest are the artist’s initials MB (Miley Busiek) and under the right side of the nest are the other artist’s initials JW (Mr. Sherl Joseph Winter).

Type II Design Proof American Gold Eagle (late 2021+)

The Type II design on the reverse side of the Proof American Gold Eagle is significantly different from the Type I design. In the center of the coin is the side profile image of an American bald eagle facing the left side of the coin. Along the top fin edge of the coin are the words “UNITED STATES OF AMERICA,” and under that are the words “E PLURIBUS UNUM,” and under that is the motto “IN GOD WE TRUST.” Three stars separate the words on both sides ( 3 on the left and 3 on the right, six stars total). At the bottom left side of the reverse side of the Type II design are the words “50 DOLLARS,” then a single star, and then the words “1 OZ. FINE GOLD.”

Under the neck of the Type II designed American bald eagle are the artist's initials JN for Jennie Norris, and over the back of the neck of this majestic bird are the medallic artist's initials RG for Renata Gordon.

1 Ounce Proof American Gold Eagle Specifications

The standard 1-ounce size of the Proof American Gold Eagle weighs a little more than one Troy ounce, 1.0909 Troy ounces to be exact which is around 33.931 grams. Composed of .9167 fine gold (91.67% pure gold), and an alloy of .03 fine silver (3% pure silver,) and .0533 fine copper (5.33% pure copper), this highly collectible coin is sure to draw significant collector and investor attention. The 1 oz Proof American Gold Eagle has a diameter of 32.7 mm or 1.287402 inches, and 2.87 mm or 0.1129921 inches thick. It has a $50 face value (fifty dollars) as a government official legal tender, although it is not intended for circulation and is worth well over $50 for its significant melt value alone.

1/2 Ounce Proof American Gold Eagle Specifications

The next size of the Proof American Gold Eagle is the half-ounce size that weighs around 16.966 grams which is around 0.5455 troy ounces. It is composed of .9167 fine gold (91.67% pure gold), 0.3 fine silver (3% pure silver), and 0.0533 fine copper (5.33% pure copper). The ½-ounce Proof American Gold Eagle has a diameter of 27 mm or 1.06299 inches. The half-ounce Proof American Gold Eagle has a face value of $25 (twenty-five dollars).

1/4 Ounce Proof American Gold Eagle Specifications

The third size of Proof American Gold Eagle coins is the quarter-ounce version that has a face value of $10 (ten dollars) and weighs 8.483 grams or 0.27273 Troy ounces. The ¼-ounce Proof American Gold Eagle is composed of .9167 fine gold (91.67% pure gold), .03 fine silver (3% pure silver), and .0533 fine copper (5.33% pure copper). It has a diameter of 22 mm or .866142 inches.

1/10 Ounce Proof American Gold Eagle Specifications

The fourth and final size of the Proof American Gold Eagle coins is the tenth-ounce size with a $5 face value (five dollars). This small coin has a weight of 3.393 grams or 0.1091 troy ounces, and a diameter width of 16.5 mm or 0.64961 inches. The 1/10-ounce Proof American Gold Eagle is composed of .9167 fine gold (91.67% pure gold), .03 fine silver (3% pure silver), and .0533 fine copper (5.33% pure copper).

The Proof American Gold Eagle Set

The Proof American Gold Eagle Set comes with all four sizes of the Proof American Gold Eagles, or sometimes only two of these prized coins, in one convenient package totaling 1.85 Troy ounces of actual gold content for the full four sets. The US Mint charges an exorbitantly high premium for these Proof Sets. At the time of this writing, a four-set of the Proof American Gold Eagles costs around $5,425 on the US Mint website.

Storing a Proof American Gold Eagle

When storing your Proof American Gold Eagle coins, it is a good idea to keep them out of sight from other people, stored away from the elements, and preferably kept in a locked box of some sort to keep them safe and in pristine condition. There are plenty of options available including a home safe, a bank safe deposit box, or a depository such as the Money Metals Depository. What many people do not initially realize is that the Depository is a much more cost-effective and safe way of storing precious metal items such as gold, silver, platinum, palladium, or rhodium.

Additionally, a person can store their Proof American Gold Eagle coins in the depository for a self-directed precious metals Individual Retirement Account (IRA). However, we at Money Metals believe that bullion bars, bullion rounds, bullion ingots, and bullion coins are a better investment option than the Proof American Gold Eagles. Although any gold item will act as a personal store of value potentially hedging against inflation and saving wealth, the bullion versions have much lower premiums and added costs with greater average return on investment (ROI). The lower the cost of buying a gold item, as long as it is pure gold, will tend to have greater liquidity, meaning it is easier and faster to sell. Nevertheless, the Proof American Gold Eagle tends to stay in relatively high demand.

Selling Your Proof American Gold Eagle

Money Metals also buys back precious metal items such as the Proof American Gold Eagle coin and the Proof American Gold Eagle Set. If you’d like to know how much we will buy your gold coin or other products, simply find the item on the site, go to the particular product page, and click on the blue box at the lower right hand of the main product image. The blue box says “Click Here to Sell to Us.” This will provide you with the amount Money Metals will pay, and provide the next steps in the process. While most dealer websites will only buy back if the total is at least $1000, Money Metals does not have a dollar minimum for buying your precious metals items. Money Metals pays quickly once we receive your items and verify their content, weight, and purity.

Buying a Proof American Gold Eagle

When buying Proof American Gold Eagles, it is important to know the current spot price, average premium charge (this is an industry standard that is the cost the selling company adds to the product), and the average ask price for Proof American Gold Eagles. It may also be important to you to know that the company you buy from shares your ethics and values since there are many bad actors in the precious metals industry.

Money Metals Exchange always lists the live spot prices, transparently notes the premiums on every product, and offers competitive pricing. Money Metals mails products quickly, in protective packaging, and provides a proper Certificate of Authenticity. Money Metals actively works with various organizations within the precious metals industry to reduce or eliminate precious metals related taxes across the United States and promotes the true American spirit of Life, Liberty, Property, and the Pursuit of Happiness. Money Metals’ zero-commission customer service representatives take the time to provide white glove service, help educate customers whether seasoned or inexperienced, and are available via phone, email, or chat Mon-Sat during normal business hours.

If you have any questions or are interested in acquiring a Proof American Gold Eagle Coin or Set and its gilded legacy, we're here to assist you. Contact us at 1-800-800-1865 to speak with one of our friendly, knowledgeable, representatives.

At Money Metals, we're committed to helping you make informed precious metals investment choices and providing you with access to exceptional precious metal products. Don't wait; invest in excellence with the Proof American Gold Eagle Coin today.

If you have any questions (FAQ) about the Proof American Gold Eagle or coins within a set, another year of the proof coinage set, an American Silver Eagle proof set, a gold American Eagle coin, American Silver Eagle, silver bullion coins, commemorative coins, display case, storing your precious metal items in the Money Metals Depository, prices, Certificate of Authenticity (COA), packaging, buying or selling to Money Metals, payment method, shipping, insurance, delivery, or anything else, give us a call: 1-800-800-1865

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